/biz/ - Business & Finance

[Anonymous No.8570021]

>BTC will never be under 7000 again because miners won't allow it.

How accurate is this?

[Anonymous No.8570299]

>>8570021
give it up. It's all over
AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA

[Anonymous No.8570342]

>>8570021
your pic?
pretty much exactly how it went down.
we cyberpunk distopia now

[Anonymous No.8570369]

>>8570021
you're assuming every miner is rich. Miners mine and sell their coins, if they held they would be rich but they usually don't. There are a lot more whales with more money

[Anonymous No.8570522]

>>8570021
Eh, there's some validity to it but it's not as cut and dry as people who use this argument make it seem. Mining difficulty changes so if it becomes unprofitable for the big fish then they'll stop using their rigs and it gives opportunity for the smaller miners to start mining at a profit instead. There will be massive resistance though if it does come to that by thosebig fish though, yes. I haven't actually researched if $7k is that cutoff point.
>>8570342
cyberpunk dystopia is when you take off the VR and you can't even get the McDonalds job due to robots.

[Anonymous No.8570548]

>>8570369
>whales would rather crash the system to the point where it implodes than allow it to grow and milk it again
>inb4 prisoners dilemma

maybe u fags are just wrong and there's a reason we're going to float between 6k-12k for the next year

[Anonymous No.8570719]

>>8570548
bitcoin will not implode if it goes below that price, there will always be miners for a while even if it's not profitable, and then difficulty adjusts. bitcoin was designed to be secure independent of market conditions (since they don't have EDA there may be little miners at some point but it doesn't matter)

The optimal path to making money is not going linearly to the top, you make a lot more by going up and down a lot and catching people's money there. since a lot of people know about crypto by now it makes a lot of sense to crash it and wait for the new generation of 15 year olds with daddy's money to pump it.

[Anonymous No.8570734]

>>8570369
How would miners pay for their electricity to mine if they didn't sell some of their rewards?

[Anonymous No.8570784]

>>8570719
>since a lot of people know about crypto by now it makes a lot of sense to crash it and wait for the new generation of 15 year olds with daddy's money to pump it.
this

same thing happened in 2013 to now

all the bagholders and people who sold the bottom in 2014 came back into crypto in 2017 because they knew about it from before, were experiencing severe regret from not holding and fomo'd in (maybe not at the top though)

it's just human nature, same thing will happen with 100k bullrun in a few years, all the people who sold at 9k will fomo in again at 40k

[Anonymous No.8570807]

>>8570548
And mining bitcoin doesn't cost $7k, it costs way less than that. Most of it is done by using excess electricity since making the investment where electricity is expansive is not that profitable and you're putting money at risk if the btc price doesn't make it viable to mine

[Anonymous No.8570866]

>>8570734
They have to sell, what I'm saying is that $1000 in 2010 or something would make you more bitcoin than all the miners combined have mined ever (excluding jihan) so whales hold the fate of bitcoin

[Anonymous No.8570877]

>>8570021
0%

[Anonymous No.8570896]

>>8570807
7k is return on investment including paying for the antminers I believe.

[Anonymous No.8570999]

>>8570866
*not ever obviously but in the last few years

[Anonymous No.8571034]

Not accurate at all.

[Anonymous No.8571105]

It's a stupid meme.